Data and big data have been a hot topic for a while. The increased spread of the Internet in the past decades generated a wealth of data, which can be of tremendous value and it is essentially a new asset class for businesses, if utilized properly.

Data-savvy businesses are using data analytics to increase the speed and quality of their decision making process.

Now, just imagine the amount of data which is available for the tax function of businesses – for example the transaction data used for VAT returns preparation. With the further analysis and by unlocking the full potential of this data, the (indirect) tax function can raise its profile to other stakeholders within the business by presenting the right data in the right form. For digital services providers data analytics is even more important, as this is the only source of information based on which business performance is evaluated and decisions are made.

What role does data analytics play in supporting and informing decision-making? What’s the difference between Big Data and effective data management?

Find out more in PwC Switzerland’s short video and position paper “Business Booster: Data Analytics” which describes seven key areas and challenges in this filed. Shortly we will also present various PwC tools and solutions which is specific to this area.

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Disclosure

Any tax-related opinion in any part of this blog (including any links) is not tax advice. Any user of this blog should seek the advice of a competent, independent tax professional regarding that user’s particular circumstances. I make no claim, promise, or warranty about the accuracy of the information provided herein. Tax advice cannot be provided on a general basis, and must be specifically tailored for each individual by his or her particular representative. Everything included within is the author’s opinion and not a concrete fact.